PARSIPPANY, N.J., March 30, 2004 -- GenTek Inc. (OTC Bulletin Board: GETI) today announced results for the fourth quarter and full year of 2003. GenTek emerged from bankruptcy on Nov. 10, 2003, with a significantly reduced debt load, reflecting a decrease in its total debt from approximately $950 million prior to filing for Chapter 11 protection in October 2002 to $264 million as of Dec. 31, 2003.

GenTek is reporting results for the period from Jan. 1, 2003, through its emergence date of Nov. 10, 2003 ("Predecessor period"), as well as for the period from Nov. 11, 2003, through Dec. 31, 2003 ("Successor period"). During the Predecessor period, GenTek had revenues of $956.9 million, net income of $494.4 million and earnings per share on a diluted basis of $19.34. During the Successor period, GenTek had revenues of $142.2 million, net income of $1.1 million and earnings per share on a diluted basis of 11 cents on 10 million shares outstanding. For all of 2002, GenTek recorded revenues of $1,128.5 million and posted a net loss of $360.6 million, or a loss of $14.13 per share, after the impact of a tax-effected loss of $161.1 million due to the cumulative effect of a change in accounting principle. The results for 2003 and 2002 are presented in further detail on Schedule 1.

Pro Forma Results
To facilitate the comparison of 2003 results against prior and future periods, GenTek has presented 2003 fourth-quarter and full-year results, as well as results for the comparable prioryear periods, on a pro forma basis, as if the company had emerged from bankruptcy at the beginning of such periods. These pro forma results are based upon certain key assumptions that are material to the presentation of such results. In particular, the pro forma results assume a 40 percent normalized effective tax rate, which may ultimately be materially different from GenTek’s future effective tax rate. While management believes that this presentation of pro forma results may be useful, we caution investors not to rely solely on such results in making investment decisions. Pro forma results for the fourth quarter and full year of 2003, as well as for the comparable prior-year periods, are summarized in the attached Schedule 2 and all pro forma adjustments are detailed in Schedules 3 through 6.

For the fourth quarter of 2003, GenTek posted pro forma revenues of $277.1 million compared with $269.4 million in the corresponding quarter of 2002. For the fourth quarter of 2003, GenTek recorded pro forma operating profit of $21.2 million versus $8.8 million in the fourth quarter of 2002. The company recorded fourth-quarter pro forma net income of $11.2 million, or $1.12 per diluted share, compared with pro forma net income of $3.5 million, or 35 cents per diluted share, for the corresponding period of 2002.

The company’s fourth-quarter performance was favorably impacted by restructuring initiatives implemented in 2002 as well as improved performance in the company’s communications segment.

"We took aggressive action to reduce costs prior to filing Chapter 11, reducing headcount by 40 percent from its peak level in December 2001 and closing or consolidating 19 facilities," said Richard R. Russell, GenTek’s president and CEO. "The positive effect of these actions is substantially reflected in the fourth-quarter results."

For all of 2003, GenTek had pro forma revenues of $1,099.1 million compared with revenues of $1,128.5 million in 2002. For full-year 2003, GenTek recorded pro forma operating profit of $35.4 million versus a pro forma operating loss of $25.1 million in 2002, and recorded pro forma net income of $13.2 million, or $1.32 per diluted share, compared with a pro forma net loss of $24.7 million (before a tax-effected loss of $161.1 million due to the cumulative effect of a change in accounting principle), or a loss of $2.47 per share, for 2002. Full-year 2002 pro forma net income, after the effect of the change in accounting principle, reflected a loss of $185.8 million, or a loss of $18.58 per share.

Adjusted Pro Forma Results
For further comparison against prior and future periods, GenTek has also presented 2003 fourth-quarter and full-year results, as well as results for the comparable prior-year periods, on an adjusted pro forma basis. The adjusted pro forma results reflect removing the impact of any restructuring, impairment, reorganization and other one-time items. These adjustments are detailed on Schedules 7 and 8. In addition, the company has presented adjusted earnings before interest, taxes, depreciation and amortization (adjusted EBITDA) as a measure of operating results. GenTek has presented adjusted EBITDA to enhance the reader’s understanding of operating results, as it is a measure commonly used to value businesses by investors and lenders. Adjusted EBITDA is a non-GAAP measure, and as such, a reconciliation of adjusted EBITDA to pro forma net income is provided in Schedule 9.

During the fourth quarter of 2003, adjusted EBITDA was $35.1 million compared with $25.3 million in the fourth quarter of 2002. On an adjusted pro forma basis, the company posted fourth-quarter 2003 net income of $12.5 million, or $1.25 per diluted share, compared with $5.7 million, or 57 cents per diluted share, for the same period in 2002.

For all of 2003, adjusted EBITDA was $111.9 million compared with adjusted EBITDA of $108.6 million in 2002. The company posted 2003 adjusted pro forma net income of $30.3 million, or $3.03 per diluted share, compared with $27.1 million, or $2.71 per diluted share, for the prior year (before a tax-effected loss of $161.1 due to the cumulative effect of a change in accounting principle). Full-year 2002 adjusted pro forma net income after the effect of the accounting change was a loss of $134.1 million, or a loss of $13.41 per share.

"With our debt load now at a manageable level and in light of our recently announced agreement to sell our KRONE communications business, we will now concentrate on growing and improving our core businesses within the performance products and manufacturing segments," Russell said. "We will continue to sharpen our focus, with a view toward building sustainable value for our shareholders."

About GenTek Inc.

GenTek Inc. is a manufacturer of industrial components, performance chemicals and telecommunications products. Additional information about the company is available on GenTek's Web site at www.gentek-global.com.

Non-GAAP Financial Measures

This release contains a non-GAAP financial measure within the meaning of Regulation G promulgated by the Securities and Exchange Commission. Included in this release is a reconciliation of the difference between this non-GAAP financial measure with the most directly comparable financial measure calculated in accordance with GAAP.

This press release includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Certain statements, other than statements of historical facts, included herein may constitute forward-looking statements. We have based these forward-looking statements on our current expectations and projections about future events. These forward-looking statements include, but are not limited to, statements relating to our ability to complete the proposed transaction with ADC involving the KRONE communications business; the expected closing date of the transaction and the satisfaction of the closing conditions; expected proceeds from the transaction; and future balance sheet improvements. Although GenTek believes the expectations contained in such forward-looking statements are reasonable, it can give no assurances that such expectations will prove correct. Other important factors that could cause actual results to differ from these expectations include, among others, the impact of our reorganization under Chapter 11; our ability to fund and execute our business plan; potential adverse developments with respect to our liquidity or results of operations; our outstanding indebtedness and leverage; the impact of the restrictions imposed by our indebtedness; the high degree of competition in certain of our businesses, and the potential for new competitors to enter into those businesses; continued or increased price pressure in our markets; customers and suppliers seeking contractual and credit terms less favorable to us; our ability to maintain customers and suppliers that are important to our operations; our ability to attract and retain new customers; the impact of possible substantial future cash funding requirements for our pension plans, particularly if investment returns on pension assets are lower than assumed; the extent to which we undertake dispositions and new acquisitions or enter into strategic joint ventures or partnerships and their implementation; the impact of any possible failure to achieve targeted cost reductions; increases in the cost of raw materials, including energy and other inputs used to make our products; our ability to attract, retain and compensate key executives and employees; future modifications to existing laws and regulations affecting the environment, health and safety; discovery of unknown contingent liabilities, including environmental contamination at our facilities; suppliers' delays or inability to deliver key raw materials; breakdowns or closures of our or certain of our customers' plants or facilities; inability to obtain sufficient insurance coverage or the terms thereof; domestic and international economic conditions, fluctuations in interest rates and in foreign currency exchange rates; the cyclical nature of certain of our businesses and markets; the potential that actual results may differ from the estimates and assumptions used by management in the preparation of the consolidated financial statements; the impact of "fresh start" accounting on our financial statements; future technological advances which may affect our existing product lines; and other risks detailed from time to time in our SEC reports. We undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. In light of these risks, uncertainties and assumptions, the forward-looking events discussed in this press release might not occur.

Media Contact:
Gia L. Oei, 603-929-2489
Gia.Oei@gentek-global.com

Investor Contact:
Mark Connor, 973-515-1989
MConnor@gentek-global.com